BB

Julian & Felix Baker

Biotech / Long-Only
Baker Bros. Advisors

Founders of Baker Bros. Advisors. Life-sciences specialists with concentrated, multi-year positions in biotechnology companies, one of the largest healthcare-focused hedge funds in the world.

Q2 2026 13F FilingFiled August 14, 2026View on SEC EDGAR
Total positions
82
Portfolio value
$19.13B
Top-10 concentration
71.6%
First quarter loaded — quarter-over-quarter changes will appear once Q2 2026 data is filed (~August 2026).
Sector allocation2 sectors
Healthcare74.4%
Other25.6%

Q2 2026 Portfolio82 positions

#, Company, % of Portfolio, Value
#Company% of PortfolioValueSharesvs Last Qtr
1
INCYIncyte Corporation4
17.5%
$3.49B30.76M—
2
BEIGFBeOne Medicines Ltd.
12.6%
$2.51B8.80M—
3
RVMDWRevolution Medicines, Inc.
10.7%
$2.14B11.44M—
4
MDGLMadrigal Pharmaceuticals, Inc.3
5.8%
$1.15B2.14M—
5
ACADACADIA Pharmaceuticals Inc.3
5.4%
$1.09B42.91M—
6
KYMRKymera Therapeutics, Inc.
5.0%
$992.7M8.66M—
7
INSMInsmed Incorporated6
4.7%
$937.8M8.80M—
8
KODKodiak Sciences Inc.
3.9%
$776.1M19.92M—
9
RYTMRhythm Pharmaceuticals, Inc.3
3.1%
$622.3M5.60M—
10
PRAXPraxis Precision Medicines, Inc.
2.9%
$587.0M1.75M—
11
ALKSAlkermes plc2
2.6%
$524.6M10.01M—
12
SMMTSummit Therapeutics Inc.2
2.4%
$477.7M32.79M—
13
GRALGRAIL, Inc.3
1.4%
$275.0M4.03M—
14
ABCLAbCellera Biologics Inc.
1.3%
$259.1M33.01M—
15
IMVTImmunovant, Inc.2
1.0%
$209.4M5.44M—
16
IDYAIDEAYA Biosciences, Inc.
0.94%
$186.7M5.01M—
17
KNSAKiniksa Pharmaceuticals International, plc
0.91%
$181.3M2.83M—
18
ROIVRoivant Sciences Ltd.5
0.84%
$166.9M4.72M—
19
ARWRArrowhead Pharmaceuticals, Inc.2
0.81%
$162.4M1.99M—
20
IONSIonis Pharmaceuticals, Inc.3
0.81%
$162.4M2.05M—
21
EWTXEdgewise Therapeutics, Inc.
0.75%
$150.4M3.70M—
22
REPLReplimune Group, Inc.
0.61%
$122.3M11.05M—
23
NRIXNurix Therapeutics, Inc.2
0.57%
$113.0M4.66M—
24
STOKStoke Therapeutics, Inc.
0.55%
$109.2M3.34M—
25
GLUEMonte Rosa Therapeutics, Inc.2
0.53%
$105.2M4.35M—
26
IMTXImmatics N.V.
0.48%
$96.3M9.51M—
27
DNLIDenali Therapeutics Inc.
0.48%
$96.0M3.73M—
28
CRNXCrinetics Pharmaceuticals, Inc.
0.44%
$88.0M2.35M—
29
DNTHDianthus Therapeutics, Inc.
0.42%
$83.1M852K—
30
GPCRStructure Therapeutics Inc.
0.39%
$76.9M1.43M—
31
CELCCelcuity Inc.3
0.35%
$69.2M30.75M—
32
RAPPRapport Therapeutics, Inc.
0.32%
$64.5M1.55M—
33
ALMSAlumis Inc.
0.28%
$56.6M2.01M—
34
PRLDPrelude Therapeutics Inc.
0.27%
$54.0M10.12M—
35
RLAYRelay Therapeutics, Inc.2
0.27%
$52.9M2.83M—
36
MIRMMirum Pharmaceuticals, Inc.2
0.26%
$52.2M446K—
37
BCYCBicycle Therapeutics plc
0.23%
$46.2M10.89M—
38
ELVNEnliven Therapeutics, Inc.
0.23%
$45.9M905K—
39
CLDXCelldex Therapeutics, Inc.
0.22%
$44.0M1.18M—
40
VRDNViridian Therapeutics, Inc.2
0.22%
$43.8M2.38M—
41
DSGNDesign Therapeutics, Inc.
0.19%
$38.8M2.68M—
42
TRDAEntrada Therapeutics, Inc.
0.19%
$37.3M5.07M—
43
FTHFaeth Therapeutics, Inc.
0.16%
$32.2M1.29M—
44
AKTSAktis Oncology, Inc.2
0.16%
$32.1M996K—
45
NGNENeurogene Inc.
0.16%
$31.2M992K—
46
JBIOJade Biosciences, Inc.
0.14%
$27.3M1.23M—
47
TSHATaysha Gene Therapies, Inc.2
0.14%
$27.3M4.00M—
48
RCUSArcus Biosciences, Inc.
0.13%
$26.0M845K—
49
IRONDisc Medicine, Inc.
0.13%
$25.6M350K—
50
ABSIAbsci Corporation2
0.12%
$24.7M2.13M—
51
GENBGenerate Biomedicines, Inc.2
0.12%
$24.0M1.42M—
52
DBVTFDBV Technologies S.A.
0.12%
$24.0M1.46M—
53
XENEXenon Pharmaceuticals Inc.2
0.11%
$22.3M370K—
54
TECXTectonic Therapeutic, Inc.
0.10%
$20.9M608K—
55
CERSCerus Corporation2
0.09%
$18.7M6.40M—
56
CTMXCytomX Therapeutics, Inc.
0.09%
$18.7M4.98M—
57
DYNDyne Therapeutics, Inc.
0.09%
$18.1M813K—
58
CYTKCytokinetics, Incorporated2
0.09%
$18.0M211K—
59
XNCRXencor, Inc.
0.09%
$17.7M1.10M—
60
SIONSionna Therapeutics, Inc.2
0.09%
$17.6M400K—
61
NTLAIntellia Therapeutics, Inc.3
0.08%
$15.7M930K—
62
PBLSParabilis Medicines, Inc.2
0.07%
$13.7M500K—
63
MPLTMapLight Therapeutics, Inc.
0.07%
$13.1M365K—
64
AVLNAvalyn Pharma Inc.
0.06%
$11.5M350K—
65
EVMNEvommune, Inc.
0.06%
$11.3M847K—
66
BNTXBioNTech SE2
0.06%
$11.1M120K—
67
TNGXTango Therapeutics, Inc.2
0.05%
$10.4M333K—
68
AVTXAvalo Therapeutics, Inc.3
0.05%
$10.2M550K—
69
SERASera Prognostics, Inc.
0.05%
$10.0M5.50M—
70
VSTMVerastem, Inc.
0.05%
$9.5M2.50M—
71
SGMTSagimet Biosciences Inc.2
0.04%
$7.4M953K—
72
EIKNEikon Therapeutics, Inc.
0.04%
$7.2M556K—
73
LBRXLB Pharmaceuticals Inc.
0.03%
$6.5M200K—
74
VTVTvTv Therapeutics, Inc.
0.03%
$5.6M148K—
75
WVEWave Life Sciences Ltd.2
0.02%
$4.8M823K—
76
TARAProtara Therapeutics, Inc.
0.02%
$3.7M972K—
77
TCRXTScan Therapeutics, Inc.
0.01%
$2.7M2.78M—
78
IMNMImmunome, Inc.
<0.01%
$1.2M55K—
79
SKYESkye Bioscience, Inc.
<0.01%
$1.1M1.58M—
80
SANASana Biotechnology, Inc.
<0.01%
$1.1M310K—
81
ALGSAligos Therapeutics, Inc.
<0.01%
$479K83K—
82
TYRATyra Biosciences, Inc.
<0.01%
$339K11K—
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Data sourced from SEC 13F-HR filings via EDGAR. Holdings are reported quarterly and may not reflect current positions. CUSIP-to-ticker mapping is approximate. Not financial advice.